News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • Italian PM Conte won support for his government in the Chamber of Deputies 321 to 259. He will face a more difficult vote in the Senate tomorrow
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.05% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.18% 🇳🇿NZD: -0.26% 🇦🇺AUD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/L7qJIoIuXY
  • 🇳🇿 Electronic Retail Card Spending MoM (DEC) Actual: 19.2% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-01-18
  • President-Elect Joe Biden's Treasury Secretary nominee Janet Yellen (former Fed Chairwoman) is due to before the Senate Finance Committee tomorrow at 15:00 GMT (or 10:00 EST)
  • 🇳🇿 Electronic Retail Card Spending YoY (DEC) Actual: 3.5% Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Silver: 0.79% Gold: 0.49% Oil - US Crude: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bTtIH1q2ja
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 67.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wmO5VkczyC
  • Heads Up:🇳🇿 Electronic Retail Card Spending MoM (DEC) due at 21:45 GMT (15min) Previous: 0.1% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Heads Up:🇳🇿 Electronic Retail Card Spending YoY (DEC) due at 21:45 GMT (15min) Previous: 1.4% https://www.dailyfx.com/economic-calendar#2021-01-18
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/eqBimjEp0E
Declining Swiss Exports Support SNB's EURCHF Floor Policy

Declining Swiss Exports Support SNB's EURCHF Floor Policy

Benjamin Spier, Technical Strategist

THE TAKEAWAY: Swiss trade deficit drops in March and misses expectations -> Lower exports are likely to support the SNB’s currency intervention program -> EUR/CHF 1.2000 floor remains intact

The Swiss trade balance dropped to 1.688 billion in March, well below analysts’ 3 billion expected level, as Swiss exports fell and imports rose. Seasonally adjusted real exports dropped 2.5% from February, as real imports were up 4.6%, according to a report from the Federal Customs Office.

The drop in exports comes at a time when the Swiss National Bank has been fighting off an exaggerated strengthening of the Swiss Franc. As economic signs have been worsening in Europe, traders are moving their money to the franc as a safe-haven. Worrying that that a rise in the cost of their currency would curb exports, the SNB has been buying Euros as part of an effort to create a 1.2000 floor in EUR/CHF. It could be suggested that today’s disappointing exports will only encourage their policy, maybe even lead to an elevation of the floor.

Declining_Swiss_Exports_Support_SNBs_EURCHF_Floor_Policy_body_eurchf.png, Declining Swiss Exports Support SNB's EURCHF Floor Policy

EUR/CHF did not move significantly on the news of decreased exports and remains in the consolidated range above 1.2000 and below 1.2034. EUR/USD dropped to new daily lows following the report, but remains in yesterday’s trading range.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES